Primecoin is an interesting altcoin launched back in 2013. The idea behind it is that we use the Primecoin algorithm to look for more prime numbers. instead of trying to crack hash codes as proof-of-work. A variety of industries use these prime numbers. For those who want to get started with Primecoin, the first step is to get a Primecoin wallet.
Getting started
You can find the main Primecoin wallet with its client software. The community has not managed to develop any major competitor for it yet. You can download Primecoin wallet software from the Primecoin website and should be your first step if you want to be part of the Primecoin community.
We use primarily use Primecoin wallet for transactions and to accept the Primecoins mined by your client. Though originally designed to be easy to mine, Primecoin is still based on a proof-of-work system so it has become harder and harder to generate. If you seriously want to mine, there are two options. You can solo mine or join a pool.
Setting up the client and going to the Debug window sets up solo mining. Just go there and type the following:
setgeneratetrue-1
This will activate all cores on your CPU or GPU to start Primecoin mining. Since the wallet is part of the client, the generated Primecoins will show up in your wallet. They will show up as incoming transactions in the wallet’s history. If you want to stop mining, then type:
setgenerate false
Solo mining is not as powerful for Primecoin as it was. Nowadays, it is better to do cloud mining. With cloud servers, bearing on the prime-crunching algorithms requires a lot more processing power. To do this, you’ll need to sign up for an account with a cloud mining service and setting it up for Primecoin mining.
Security
Keeping your Primecoin wallet safe should be one of your number one priorities. This is because you’ll end up losing all of it if it manages to get breached. It should be simple enough to secure it by keeping a backup copy of your wallet.dat file. This way your wallet is protected not just from thieves but also human mistakes.
It is also possible to make a paper Primecoin wallet. A paper wallet further protects your funds by being completely inaccessible to hackers and thieves. There are several paper wallet generators out there that service altcoins. Check them out to see your options on protecting your funds
